First Time Buyer New Mortgage to Help Kick Start the Property Market

A new mortgage product from Lloyds for first time buyers is hoped to get them jumping on the property ladder.

The "Lend a Hand" mortgage, was launched today, and is hoped to help first time buyers, who have been unable to find affordable mortgage deals since the onset of the credit crunch.

Available up to 95 per cent LTV, with a rate of 4.39 per cent fixed for three years. It is available on loans up to £350,000.

Relatives or friends are required to offset 20 per cent of the size of the mortgage loan in a linked savings account which pays a rate of 3.5 per cent for three and a half years.

We will see.......

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